The news that Manchester has been chosen as the site for the UK’s first super-casino has led some industry experts to predict a rise in house prices in the city.
Nationwide Building Society described the award as a “vote of confidence” in Manchester and said the number of jobs created will affect house prices.
“This could be good news for house prices in Manchester,” said Fionnuala Earley from Nationwide.
“It will bring new jobs to the city and the decision clearly represents a vote of confidence in Manchester’s infrastructure and the city’s ability to support a new super-casino. New jobs will lead to an increased need for housing which will support local demand and house prices.”
The news is undoubtedly good for those who already own houses in Manchester as they will see the value of their property soar.
However, first-time buyers will struggle to purchase a property in the city as prices rise, while Ms Earley also says the casino may have a negative impact on the value of some homes.
“Depending on the location of the casino, there could still be some negative impact on local prices if factors, like noise, for example, become an issue,” she said.
House prices in Manchester have risen by three per cent in the last year and by 101 per cent in the last five years.
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